A look at the headlines in the sector right now:
- Union Cabinet approves SBI’s merger with five associate banks: The government said the decision is likely to result in recurring savings estimated at more than Rs 1,000 crore for the first year after the move.
- TCS considering share buyback, will discuss matter at February 20 meeting: As of December, the company had Rs 43,100 crore in cash and investments, representing nearly 9% of its market capitalisation.
- Yahoo warns users of account breaches through cookie forging attacks: This is the latest development in the company’s response to a security failure reported last year, in which over a billion accounts were compromised.
- IT, healthcare, realty trading push Sensex, Nifty higher: After TCS’ announcement that it might buy back shares, its stocks went up 2.7%, the highest since September 2016.
- World stocks touch record high as US dollar loses momentum: The dollar was trading lower after a strong run for the past several weeks.
- Donald Trump might be a blessing in disguise for Indian IT, says Mukesh Ambani: Speaking at a Nasscom India summit, he said the US president’s policies would help the industry and Indian talent focus on solving problems in India.
- Tata Motors, Microsoft India tie up to launch the country’s ‘first connected car’: The vehicle will provide an ‘enhanced driving experience’ by using the internet of things and artificial intelligence technologies, the firms said.